About Life Insurance Council
Who We Are
Life Insurance Council is a forum that connects the various stakeholders of the sector. It develops and coordinates all discussions between the Government, Regulatory Board and the Public. In short, it is the face of the Life Insurance industry.
Constituted under Sec.64C of Insurance Act 1938, the Life Insurance Council functions through several sub-committees and includes all life insurance companies in India. In total, there are 24 life insurers who offer a variety of traditional and new innovative products.
Our Objective
To play a significant and complementary role in transforming India's life insurance industry into a vibrant, trustworthy and profitable service, helping people in their journey to prosperity.
Our Mission
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To function as an active forum to aid, advise and assist insurers in maintaining high standards of conduct and service to policyholders.
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Interact with the Government and other bodies on policy matters.
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Actively participate in spreading insurance awareness in India.
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Take steps to develop education and research in insurance.
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Help India enjoy the benefits of global practices.
BEWARE OF SPURIOUS/ FRAUD PHONE CALLS!
• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.
• Public receiving such phone calls are requested to lodge a police complaint.
Tax benefits are as per applicable laws which are subject to change. Policyholders are advised to consult tax expert for better clarification /interpretation.
In Linked Insurance Products, the Investment Risk in Investment Portfolio Is Borne by The Policyholder. The linked insurance products do not offer any liquidity during the first five years of the contract. the policyholder will not be able to surrender/withdraw the monies invested in linked insurance products completely or partially till the end of fifth year. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document issued by the insurance company.